CHICAGO, Feb. 14, 2019 /PRNewswire/ -- According to Arizton's recent research report, the global earphones and headphones market is projected to reach values of more than $36 billion by 2024, growing at a CAGR of around 13% during 2018−2024. The market research report offers market share analysis in terms of unit volumes during the forecast period.
Key Highlights Offered in the Report:
- In 2018, more than 1 million headphones were sold per day which translates to almost 13 headphones per second; this is expected to increase by two-fold by 2024.
- The paradigm shift in consumer preferences for high-quality music is boosting the ASP of headphones. APAC to witness an increase in ASP by almost 40%.
- An influx of true wireless headphones with language translation capabilities is likely to transform the global earphones and headphones market.
- The introduction of smart headphones with augmented hearing capabilities that act as hearing aids will boost revenues in the global market. 900 million people are expected to have some degree hearing loss by 2050.
- In-ear and truly wireless headphones have a high adoption rate in various APAC countries due tothe concentration of global and local vendors. E-commerce is further propelling growth.
- Regional players are gaining grounds and dominance owing to the launch of quality products at attractive prices. This is influencing the global leader to offer products at competitive prices.
- Market Size & Forecast by Revenue | 2018−2024
- Market Size & Forecast by Unit (Volumes) | 2018−2024
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation - Detailed analysis by technology, type, features, end-use, and geography.
- Competitive Landscape – Profiling 6 key vendors and 38 prominent players.
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Earphones and Headphones Market – Segmentation
This market research report includes a detailed segmentation of the market by technology, type, features, end-use, and geography.
- The fitness and sports segment is the fastest growing end-user in the global market, growing at a CAGR of more than 15% by 2024.
- The wireless segment dominated the market in 2018.
- Market Segmentation by Technology
- True Wireless
- Market Segmentation by Type
o True Wireless
- Market Segmentation by Feature
- Market Segmentation by End-use
- Fitness & Sports
Earphones and Headphones Market –Geography
The global earphones and headphones market by geography is segmented into APAC, Europe, North America, Latin America, and MEA. China, South Korea, and India are the largest revenue generators in the global earphones and headphones market.
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- Market Segmentation by Geography
- North America
o South Korea
- Latin America
o South Africa
Market Size & Forecast | 2018−2024
- Unit (Volumes)
- Product Type
- Key Countries
Major vendors in the global market are:
Other prominent vendors include Jabra, Bang & Olufsen, Jaybird, Motorola, Huawei, Avanca, Amkette, Asus, Audio-Technica, Beyerdynamic, Creative Technology, Denon, Grado Labs, House of Marley, JAYS, JVC Kenwood, Logitech, Monster, Panasonic, Parrot, Philips, Pioneer, Shure, Sol Republic, Turtle Beach, Urbanears, Westone Laboratories, Alphabet, Bragi, Nuheara, Rowkin, Crazybaby, Earin, Meizu, Waverly Labs, Mymanu, Toshiba, Xiaomi, and RHA.
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SOURCE Arizton Advisory & Intelligence